Here's the Average Middle-Class American's Retirement Savings. How Do You Compare?

About 50% to 60% of Americans are in the middle class, depending on what definition you use. While being middle class has traditionally meant you make a pretty good living, that isn't always the case anymore.

After paying for housing and other bills, many middle-class Americans don't have much left to save. Where this really becomes apparent is in retirement savings. The middle class hasn't been able to save much for retirement, and it could have serious consequences in the future.

The average middle-class American's retirement savings

Middle-class Americans have a median retirement savings of $22,380 to $80,000, according to Federal Reserve data gathered by The Motley Fool. Those are the average amounts for Americans in the 25th to 49.9th and 50th to 74.9th net worth percentiles.

Here's a table with a complete look at median retirement savings by net worth. It also includes the growth in each group's retirement savings since 1989.

If your retirement savings is between $22,380 to $80,000, then you're in the middle-class range. It's not a bad place to be, but it might not be enough. Only 34% of Americans feel as if they're on track for retirement. If you're part of the 66% who don't, then it's time to consider what you can do to save more.

The best ways to get your retirement savings on track

There are lots of actions you can take to save for retirement. Below, you'll find several of the most effective options.

Open a 401(k) and an IRA

If you haven't already, set up retirement accounts. Traditional 401(k)s and individual retirement accounts (IRAs) help you save on taxes, because contributions reduce your taxable income. Roth 401(k)s and Roth IRAs don't reduce your taxable income, but they allow you to make tax-free withdrawals in retirement.

A 401(k) is a workplace retirement plan. You can open this if your employer offers one, or you can open your own solo 401(k) if you're self-employed. IRAs are accounts that just about anyone can open through a stock broker.

Contribute 10% to 15% of every paycheck to retirement

Saving for retirement isn't something to do once in a blue moon, when you have some extra money available. To save enough, you need to make it a financial habit.

A good goal is to save 15% of every paycheck for retirement. If you make $3,000 each pay period, then you'd contribute $450 of that to your retirement accounts.

Not everyone can set aside that much money. If not, start by doing what you can, and try to gradually increase it as your income rises.

Look for ways to increase your income

Raising your income rarely hurts. After all, one of the main reasons the upper class has so much more saved for retirement is because they earn more.

Be proactive in searching for opportunities to raise your income. You could talk to your manager about a raise, try to get promoted, or look for higher-paying jobs. Side hustles and freelance businesses are also good ways to make more money. I've been able to raise my income far more by freelancing than I ever would've as an employee.

Watch out for overspending, especially on fixed costs

Overspending is one of the biggest obstacles to saving for retirement. And in particular, it's overspending on fixed costs that can make saving difficult. Fixed costs include your rent or mortgage, car payment, child care, and anything else you pay regularly.

As a rule of thumb, try to keep these to 60% or less of your income. That way, you'll have enough money left over to save for retirement, put toward other savings goals, and to spend on yourself every month.

Taking an interest in your retirement savings is already a good first step -- lots of people don't even do that. Now that you know how to save for retirement, you can make it part of your routine and build a nest egg for the future.